Alliancebernstein L.P. Cuts Holdings in Lemonade, Inc. (NYSE:LMND)

Alliancebernstein L.P. reduced its stake in shares of Lemonade, Inc. (NYSE:LMND - Free Report) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,555 shares of the company's stock after selling 13,330 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Lemonade worth $2,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMND. Vanguard Group Inc. increased its holdings in shares of Lemonade by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,343,492 shares of the company's stock valued at $195,999,000 after acquiring an additional 134,776 shares during the period. JPMorgan Chase & Co. increased its stake in Lemonade by 2,627.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,349,356 shares of the company's stock valued at $49,494,000 after purchasing an additional 1,299,891 shares during the period. State Street Corp raised its holdings in shares of Lemonade by 1.2% in the third quarter. State Street Corp now owns 1,233,662 shares of the company's stock valued at $20,343,000 after buying an additional 14,028 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lemonade by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,164 shares of the company's stock valued at $16,585,000 after buying an additional 3,867 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lemonade by 402.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 275,161 shares of the company's stock worth $10,093,000 after buying an additional 220,399 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Lemonade news, insider John Sheldon Peters sold 1,899 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $33.79, for a total value of $64,167.21. Following the transaction, the insider now directly owns 87,609 shares in the company, valued at approximately $2,960,308.11. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Softbank Group Capital Ltd sold 42,160 shares of Lemonade stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $37.22, for a total transaction of $1,569,195.20. Following the sale, the insider now owns 10,452,476 shares of the company's stock, valued at approximately $389,041,156.72. This trade represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 248,634 shares of company stock worth $9,219,003 over the last three months. 12.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LMND. Piper Sandler lowered their target price on Lemonade from $44.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods dropped their price objective on shares of Lemonade from $25.00 to $22.00 and set an "underperform" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley cut shares of Lemonade from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $35.00 to $24.00 in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.17.

Lemonade Stock Up 5.9 %

NYSE LMND traded up $1.53 during mid-day trading on Tuesday, hitting $27.26. The stock had a trading volume of 1,053,529 shares, compared to its average volume of 1,924,844. Lemonade, Inc. has a 52-week low of $14.03 and a 52-week high of $53.85. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -8.97 and a beta of 2.13. The company has a 50 day simple moving average of $32.30 and a 200 day simple moving average of $33.14.

Lemonade (NYSE:LMND - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.19. The firm had revenue of $148.80 million during the quarter, compared to the consensus estimate of $144.78 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. As a group, equities analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current fiscal year.

About Lemonade

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.